St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-14
SATURDAYS MARKETS.
On the Chicago Board of Trade There
Were Only Moderate Dealings in
the Wheat Pit.
Whatever Speculation Was Attempted
Proved, With Little Exception, of
Local Nature
In Corn the Feeling Was Easier AS
Somewhat Larger Receipts Are
Expected,
Transactions in the Financial Circles
of Wall Street, g eneral
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO, March l2.-The failure of Maui
rice Pincor, secretary of the Gebain COM
pany, well-known shippers, caused considera-
bic talk on change to-day. He was long
ABOUT 5000 tierceS of lard, which suffered a
heavy decline. His liabilities are. placed at
$4,000. The denial by Armour in an inter-
view at San Francisco of any interest in
wheat caused some selling by those who
thoughts ii an Armour deal. Dispatches from
Milwaukee and Duluth said that the clique
houses were buying wheat at Milwaukee and
Duluth to-day early in the day. The clear
ances ut New York. only 1900 bushels, were
a great disappointment, but the clearances at
Philadelphia brought the aggregate up to a
Respectable figure for the Atlantic ports. 1t
Is estimated to-day that the visible will
show n decrease in wheat Monday of about
1,25O,OOO bushels. The gossip on the
floor to-day WIS altOgeIher over
the situation of wheat, the
plsns of buyers, the identity of
these people and the prospects of trade. In
nguriug out how much money will be needed,
if this buying OF May wheat is to be run into
corl.er, there was gensral unanimity. If
there is TO be squeeze, the clique will need
$4,000, 900 cash. 1t is figured out i'll this
way: There will be here i'll May, if that OBJ
tion is kept ut premium, at least 20,OO0.O0O
bushels of contract cheat. There are 2,O0O,-
600 bushels here now. and Duluth. Milwaukee
and St. Louis are all within forty-eight hours
by freight schedule. All the elevator room
here would be made regular, and there would
be such
A FLOOD OF WHEAT
as even Jim keene never dreamed OF. 10
pay for 20, Gao 900 bushels of wheat would re-
Quire. even with the bankers in liberal mood,
$4,000. coo. 1t would take $1,000 QUO more to
mar gin contracts. Such vast sum as this
was never before embarked in Il grain deal.
But if no squeeze is contemplated, the crowd
cannot imagine why Kershtw Co., Rosen-
field u Co., and the other clique houses keep
ON buying the May option with the June OPP
ton so much under it, and with the July
cheaper still. The identity of the clique eX-
cites as much curiosity as its methods. 1t is
Tor some hundreds of thousands Of
dollars have been seen in Rosenfeld's
office. Yet ii is known TO dead certainty
that the cashier Of the Fidelity bank, of Gin
cinnati, was here not long ago and managing
the purchase of millions of bushels OF wheat
for principals in that city. 1t is known too
that c. j. kirshaw, who has been their most
active broker, was down in Cincinnati this
week. II is all a mystery, and q mystery that
is dumbfounding the whole trade, not only at
Chicago but at New York, ut every Western
market and at Liverpool The bulk OF the
grain that comes 10 this maj ket is shipped by
the big buyers, who get the special rates.
These latter will go out of existence April B,
when the interstate law, which will send to
the penitentiary the railroad officials
who discriminate between shippers,
goes into effect. The result is that
owners OF graiE who have it sold in this mar
ket are inclined to ship it in ut once. This
was apparent in car lots this morning. There
was twice as much wheat and more corn than
was received yesterday, and more than what
has been averaged on Saturday for good
while. This has been anticipated, but its
realization will certainly make it harder work
for the bulls. Wheat, which was decidedly
steady last night, didn't hold well at the open
ing this morning. Corn especially showed
the effect, as it has not the support of any
well managed clique May wheat was down
under S2c and May corn under Ale. Then the
weather was of he mild enervating sort that
encourages selling and makes buyers timid.
THE ROUTINE REPORT.
CHICAGO, March 12.-There was only a
moderate trade in wheat to-day, and the
speculation was mainly of local character
The feeling was nervous and unsettled, and
operators watched the market very closely.
The market opened easy at SIC for May, adj
vanced to $3.50, fell off to size, rallied to
$3.50, fell back and closed for the day at SEC
The discount. on the deferred futures was
larger, and all deliveries beyond May ruled
weak. The export clearings aggregated 248,-
900 bushels 1t was estimated that the visible
supply would show decrease of from 1000
600 to 1,5U0, 900. In corn the feeling was
easier, due mainly to the prospect of larger
receipts owing to the weather. 1t was re-
ported that certain lots were sold on outside
account, and throughout the session the
offerings were moderately free. May delivery
opened at 14Gy$sc lower at Ale, fell off to 4O15c
and closed at 4O5s04034c. Oats ruled a shade
weaker, and closed slightly lower. Mess pork
was very quiet, and showed very little change.
The offerings in lard were free, and an early
break of I5@1T1&c per 100 lbs occurred,
rally of 10@121ac followed, which was sue
ceeded by another break of 20@25c. The
market closed easy. Short ribs were also very
weak, and declined 2T1%Q330c per 100 lbs early
in the session, the market closing at nearly
inside figures
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. ., March, T61Ic, closing at 7615c;
May. see, closing at SIC; June, S0Hc,
closing at SOsEc; July sic, closing at sOLc.
353ac; May Ale, closing at 405sQ4O34c; June,
4l$sc, closing at Ale: Jul,. 424c, closing at
42@425gc. Oats-No. 2, March, 24c, closing
at 24c; May, 2S7sc, closing at 2S7@29c;
June, 2S1sc, closing at zoe. Mess pork, per
barrel-March, $50. 10, closing at $40. 10; May,
ing at S20.50. Lard, per 100 pounds-March,
S1.65, closing at $40: May, $3.50, closing at
s7.52%; June, S7.S5, closing at $3.50. Short
ribs per 100 pounds-March. SS.32%,
closing at SS.I212; May, SS.42M, closing
at SS1Tl; June, $685., closing at Ss.22%.
Cash quotations were as follows: Flour quiet
and unchanged. Wheau-No. 2 spring. 1870
7sc; No. 3 spring, nominal; No. 2 red, nominal
Corn-No. 2, 3514@875sc. Osts-No 2, 24c.
Rye-No. 2, 541ac. Barley-No. 2, 4911a952c
Mess pork. per biol, 20.15@20.2O. Lard, per
100 lbs S7.4O Short ribs, sides. loose, ss05
OSLO; dry sailed shoulders, boxed, Sc; short
clear sides, boxed, SS.550S60. Whisky, dis
tillers' finished goods, per ga Sl.1s. Sugars,
cut loaf, 67s@6s4c: granuated, 57sc; stand
ard "a" 51a@55kc. Receipts-Flour 12,OOO
bbls; wheat, $4,000 bu: corn, 5,00c blu: oats,
$4,000 bu; rye, 10000 bu; barley, $4,000 blu.
Shipments-Fiour, 10000 bbls; wheat, 1885,
600 blu; corn, $4,000 bu; oats. Ill, 900 bu:
barley, $4,000 blu. On the produce exchange
to-day the butter market was easier; cream
cry, 241a@31c per II; dairy, 23@26c; eggs, 14@